Cummins Inc. (NYSE:CMI) Stock Holdings Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,239 shares of the company's stock after selling 1,493 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Cummins worth $25,183,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CMI. Global Trust Asset Management LLC grew its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the third quarter valued at approximately $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the third quarter valued at approximately $55,000. Finally, Friedenthal Financial acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on CMI shares. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. Robert W. Baird lifted their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Finally, Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $386.67.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.56% of the company's stock.

Cummins Trading Up 1.9 %

Shares of NYSE CMI traded up $7.09 during trading on Wednesday, hitting $386.22. 943,681 shares of the company traded hands, compared to its average volume of 833,256. Cummins Inc. has a 1 year low of $259.06 and a 1 year high of $387.90. The company has a 50-day moving average price of $360.92 and a 200-day moving average price of $340.50. The firm has a market capitalization of $53.10 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.13 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.14 EPS. On average, equities analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.88%. Cummins's payout ratio is 25.84%.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.